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    The Largest CRE Database in the US with Over 1 Million Listings

    307 200 Salt Lake City, UT 84101

    Sponsored
    For Lease
    $23 SF/Yr

    Modern Office Suites, Downtown Location

    Lot size:
    44,040 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    423
    The Crane Building, located at 307 W 200 S in Salt Lake City, UT 84101, offers a unique opportunity for businesses seeking creative office space in a vibrant downtown setting. This multi-tenant building boasts a total of 44,040 square feet, with a variety of suite sizes available. The minimum divisible space is 242 square feet, ideal for smaller startups or satellite offices, while larger tenants can occupy up to 3,547 contiguous square feet. Currently, there are 6,955 square feet of vacant space ready for immediate occupancy. The building's versatile design caters to a range of business needs, encompassing both retail and office spaces. The creative office subtype is particularly well-suited for companies in design, technology, or the arts, appreciating the building's character. High ceilings, measuring 10 feet, contribute to a spacious and airy atmosphere. This prime location in downtown Salt Lake City provides excellent access to amenities, transportation, and a thriving business community. The property is perfect for businesses seeking flexible and adaptable workspace in a desirable urban environment. Inquire today to learn more about leasing options and explore the possibilities of establishing your business within this dynamic building.

    Property Features for 307 200

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    44,040 SF
    Total Rate
    84410

    Spaces For Lease

    at 307 200, Salt Lake City, UT 84101 Contact us
    Unit Suite 1002

    $24 /Mo

    Size
    792 SF
    Contact us
    Unit 1003

    $24 /Mo

    Size
    2,755 SF
    Contact us
    Unit Suite 2001

    $23 /Mo

    Size
    1,577 SF
    Contact us
    Unit Suite 4001 A

    $23 /Mo

    Size
    242 SF
    Contact us
    Unit Suite 2004

    $23 /Mo

    Size
    1,589 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Jake Copinga
    Jake Copinga

    Learn more

    HighLights

    • Historic Downtown Office Building
    • 10' ceilings, exposed brick, abundant natural light
    • Creative loft‑style office spaces
    • On‑site and off‑site parking
    • Excellent freeway access via I‑15
    • Near Delta Center, convention center, and entertainment venues
    Property Profile Location Intelligence

    Current Use by Public Records

    Arc Blue Electric Electrical Service Chile-Tepin Restaurant ProTelesis, Global IT ... Telecommunications Service Crisp Restaurant Systems (Bike/Boat/Book/etc) Store Fred P. Lenhardt ... Law Firm

    Suggested Use

    Real Estate Agency Dental Office Spa & Massage Center Hair Salon Restaurant Nail Salon Daycare Center Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.89978698279
    Latitude
    40.764990834151

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    FAQs

    What type of property is this?
    Individual retail property - Modern Office Suites, Downtown Location
    Where is this individual retail property located?
    The property is located at 307 200 Salt Lake City, UT.
    What is the lease rate?
    The lease rate is $23-$24 SF/Yr.
    What are key features of this property?
    This property features: Historic Downtown Office Building; 10' ceilings, exposed brick, abundant natural light; Creative loft-style office spaces
    Request Owner's contact information
    307 200 Salt Lake City, UT 84101
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    307 200 Salt Lake City, UT 84101
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    We can help!
    Listing Contact
    Jake Copinga
    Jake Copinga
    Real Estate License ID: 5684700-SA00
    Learn more
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